The cloud-based vehicle diagnostics specialist, SOMIT solutions, has been taken over by KPIT Tech as its cloud-based platform suites well with KPIT's ongoing after-sales platform. Through this acquisition, KPIT plans to provide more integrated solutions for aiding its T25 clients. With this merger, both the companies will enable their OEM clients in achieving the aforementioned strategic goal.

Reeve Collins, Tether's co-founder, said, "I strongly believe that tether is fully backed, and you will never have any issues redeeming it." Reeve stated that the stablecoin is still backed 1:1 by reserves. Collins admitted that as the stablecoin is backed by a variety of financial instruments, it could take time to redeem the it if all the circulating supply of the Tether is redeemed at once.

Pfizer Inc stated on Wednesday that it will make available all its patented medicines which include COVID-19 treatment Paxlovid and big-selling breast cancer drug Ibrance at a nonprofit price to 45 of the world's poorest countries. Chief Executive Albert Bourla said, “But clearly the antiviral (Paxlovid) is going to be a very big deal for them - if they need it they can get it immediately.”

ShopSe garnered $6.1 million during its Series A funding from BeeNext, Chiratae Ventures, and White Venture Capital. The latest funding round of the instant no-cost EMI digital platform comes barely after a year of securing $5.5 million during the seed round. The startup will deploy the fresh funds to accelerate serviceability to 150,000 more retailers, and grow lender partnerships, among others.

ReNew Power Ventures Pvt Ltd. has signed MoU with the state governments of Maharashtra & Karnataka to develop renewable energy plants by infusing ₹50,000 crores each. In Maharashtra, it plans to develop projects covering wind, solar, hybrid power, battery storage, & green hydrogen segment. While in Karnataka, the aforementioned amount will be invested in developing green energy projects.

The Central African Republic unveiled Project Sango, Africa’s first legal crypto hub. Project Sango includes a crypto island and a digital wallet. This crypto tax haven island will offer citizenship by investment and zero income tax. In April, the Central African Republic adopted Bitcoin as legal tender.

KKR-Backed UK startup Paddle acquired ProfitWell for over $200 million in a mix of cash and equity deal to grow its payments service. Established in 2012, Paddle aims to develop tools for software companies to handle payments including checkout and subscription management. It recently garnered $200 million from investors led by KKR & Co Inc at a $1.4 billion valuation.

India's Digit Insurance is eyeing raising nearly $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion. Indian cricket star Virat Kohli is an investor & brand ambassador. Morgan Stanley & Indian investment bank ICICI Securities have been appointed by Digit Insurance as the book-runners for the deal. The company is planning to file the draft papers in September.

On May 24, Cathie Wood, Jack Dorsey, and Elon Musk went live. Elon Musk said he hopes crypto can make money more efficient so that there will be less government interference. Ark Invest CEO, Catherine Wood, said that cryptocurrencies would help the average individual combat rising inflation. Jack Dorsey stated that the current policies are harmful & concentrate power in the hands of the wealthy.

Over $50 billion has been promised by the top leaders of India, the US, Australia, and Japan to provide prolonging infrastructure aid and investment in the Indo-Pacific region. The funds will be used over the coming five years, as China is increasing its clout in the region. Consequently, Quad partners and the region will work closely to initiate the public and private investment to fill the gaps.

Arcee Industries Ltd has posted a total income of Rs. 11.0604 crores during the period ended March 31, 2022, compared to Rs. 6.9693 crores during the period ended December 31, 2021. The company has posted a net profit / (loss) of Rs. 0.6653 crores for the period ended March 31, 2022, against a net profit / (loss) of Rs. -0.4495 crores for the period ended December 31, 2021.

Almondz Global Securities Limited posted a total income of Rs. 20.21 crores during the period ended March 31, 2022, compared to Rs. 16.56 crores during the period ended December 31, 2021. The company has reported a net profit / (loss) of Rs. 1.77 crores for the period ended March 31, 2022, against a net profit / (loss) of Rs. 3.15 crores for the period ended December 31, 2021.

Adam Neumann, founder of Coworking space, WeWork, raised $70 million for his blockchain-powered climate tech platform Flowcarbon. Andreessen Horowitz (A16z) led the $32 million venture capital round, & through a private sale of the company’s Goddess Nature Token, $38 million were raised. Flowcarbon aims to bring the voluntary carbon market to the blockchain & tokenize the carbon credit industry.

Alkali Metals’ net profit stood at Rs 0.32 crore in the quarter ended March 2022, against a net loss of Rs 1.52 crore during the previous quarter ended March 2021. Sales surged by 80.35% to Rs 29.74 crore in the quarter ended March 2022, against Rs 16.49 crore in the previous quarter ended March 2021. For the full year, net profit was reported to be Rs 3.48 crore in the year ended March 2022.

Acrow India Ltd has posted a total income of Rs. 0.7298 crores during the period ended March 31, 2022, as compared to Rs. 0.2001 crores during the period ended December 31, 2021. The company has reported a net profit / (loss) of Rs. 0.9372 crores for the period ended March 31, 2022, against a net profit / (loss) of Rs. -0.1862 crores for the period ended December 31, 2021.